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Malaysia's Sime sees palm oil at 2,600 rgt in 2008

Thu Nov 29, 2007 8:23pm EST

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KUALA LUMPUR, Nov 30 (Reuters) - Crude palm oil prices are expected to average 2,600 ringgit per tonne in 2008, Sime Darby (SIME.KL) Chief Executive Ahmad Zubir Murshid said on Friday.

He said the company sold crude palm oil at an average of 2,400 ringgit per tonne as of November.

The benchmark February crude palm oil contract KPOG8 on the Bursa Malaysia Derivatives Exchange rose 57 ringgit to 2,990 ringgit ($888) a tonne on Thursday, off a high of 3,001 ringgit. (Reporting by Hsu Chuang Khoo; editing by Mark Bendeich)



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